Wyoming real estate not so bad-
June 13, 2009-According to the National Association of Realtors, between 40% and 45% of homes sold in the month of February were distressed properties-foreclosures, short sales and bank-owned properties (otherwise known as REOs). Luckily Wyoming real estate doesn’t compare to these statistics. In some of the areas hardest hit by the foreclosure tsunami, the percentages are much higher. Agents in the central valley of California report that the overwhelming majority of sales-in some cases, as much as 80%-are distressed properties, and mostly REOs. So if you’re not working with distressed properties, you’re going to be at a tremendous competitive disadvantage.
And more REOs are coming to market. The first quarter of 2009 set a new record for foreclosure activity, with over 803,000 U.S. households receiving a foreclosure notice. Current estimates call for over 3.1 million households in some stage of foreclosure this year, with up to half of these ultimately going back to the banks. Wyoming real estate is still holding strong. If considering purchasing a REO consult a realtor for proper steps.
Not surprisingly, there’s a growing interest in securing REO listings from the lenders and loan servicers among brokers, Realtors and agents. The recent REOMAC conference in Palm Desert, California, drew over 3,800 attendees, mostly agents looking for an entree into the REO business. But before you throw your hat in the ring, there are a few things you should consider about what it takes to be a successful REO agent.
Star Valley real estate is still very strong, our sellers are motivated and our inventory is large, Star Valley is a real estate pool of every type of real estate you could be looking for.
”Val D. Pendleton is the premier real estate broker in Star Valley Wyoming. Val’s family has a deep and respected heritage going back several generations in the Star Valley area. Specializing in Thayne, Afton, Bedford, Alpine and surrounding communities please visit the Coldwell Banker Country Estates website at http://www.cbcountry.comfor a complete list of inventory offered by Coldwell Banker Country Estates or email us at val@cbcountry.com If we can assist you in any way, feel free to contact us directly 307-883-7000″
http://rismedia.com/2009-06-13/so-you-want-to-be-an-reo-agent/#ixzz0IVap6GEO&D